Intellectus Partners LLC Has $1.35 Million Position in L3Harris Technologies, Inc. (NYSE:LHX)

Intellectus Partners LLC cut its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 7.0% during the 3rd quarter, Holdings Channel reports. The firm owned 5,675 shares of the company’s stock after selling 425 shares during the quarter. Intellectus Partners LLC’s holdings in L3Harris Technologies were worth $1,350,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of LHX. OneDigital Investment Advisors LLC grew its holdings in L3Harris Technologies by 0.5% during the third quarter. OneDigital Investment Advisors LLC now owns 7,915 shares of the company’s stock worth $1,883,000 after purchasing an additional 40 shares during the period. Metis Global Partners LLC boosted its stake in shares of L3Harris Technologies by 1.5% during the 3rd quarter. Metis Global Partners LLC now owns 6,061 shares of the company’s stock worth $1,442,000 after acquiring an additional 91 shares during the period. Schulhoff & Co. Inc. increased its holdings in shares of L3Harris Technologies by 12.7% during the 3rd quarter. Schulhoff & Co. Inc. now owns 1,995 shares of the company’s stock worth $475,000 after acquiring an additional 225 shares during the last quarter. Zions Bancorporation N.A. raised its stake in L3Harris Technologies by 21.7% in the 3rd quarter. Zions Bancorporation N.A. now owns 2,152 shares of the company’s stock valued at $512,000 after acquiring an additional 384 shares during the period. Finally, KBC Group NV lifted its holdings in L3Harris Technologies by 3.5% during the 3rd quarter. KBC Group NV now owns 17,305 shares of the company’s stock valued at $4,116,000 after purchasing an additional 585 shares during the last quarter. 84.76% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $236.68, for a total transaction of $707,199.84. Following the completion of the transaction, the insider now directly owns 16,316 shares in the company, valued at $3,861,670.88. This represents a 15.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last quarter, insiders have sold 8,964 shares of company stock worth $2,179,119. Insiders own 0.82% of the company’s stock.

L3Harris Technologies Stock Down 5.2 %

LHX stock opened at $248.16 on Friday. L3Harris Technologies, Inc. has a 52 week low of $184.34 and a 52 week high of $265.74. The business has a 50-day simple moving average of $242.46 and a 200 day simple moving average of $231.69. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The company has a market cap of $47.07 billion, a PE ratio of 39.20, a price-to-earnings-growth ratio of 2.18 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, October 24th. The company reported $3.34 EPS for the quarter, beating the consensus estimate of $3.27 by $0.07. The company had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.28 billion. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous year, the company earned $3.19 EPS. Sell-side analysts anticipate that L3Harris Technologies, Inc. will post 13.09 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be issued a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend is Monday, November 18th. L3Harris Technologies’s dividend payout ratio is presently 73.30%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on LHX shares. Citigroup increased their price objective on shares of L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Barclays increased their price target on shares of L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Wolfe Research upgraded L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective for the company in a report on Thursday, October 10th. Susquehanna increased their target price on L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research note on Monday, July 29th. Finally, Morgan Stanley downgraded L3Harris Technologies from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $275.00 to $257.00 in a research note on Friday, August 9th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $267.50.

About L3Harris Technologies

L3Harris Technologies, Inc provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides intelligence, surveillance, and reconnaissance (ISR) systems, passive sensing and targeting, electronic attack, autonomy, power and communications, and networks and sensors, as well as advanced combat systems for air, land, and sea sectors.